1、BANKING ON CLIMATE:The Mortgage Lending Opportunity in Building Decarbonization Jamie Horton,NYCEDCMarianna Koval,NYU Stern Center for Sustainable BusinessContributors:Sam Chandan,NYU Stern Chen Center for Real Estate FinanceJohn Mandyck,Urban Green CouncilKendra Gibbs,NYU Stern Center for Sustainab

2、le BusinessLena Renshaw,NYU Stern Center for Sustainable BusinessChris Halfnight,Urban Green CouncilAdam Schiabor,Urban Green CouncilSheena McDermott,Urban Green CouncilAUTHORSCONTENTS4 INTRODUCTION7 EXECUTIVE SUMMARY8 Building Decarbonization is the Largest Climate Investing Opportunity 9 Mortgage

3、Lenders Can be Leaders 11 New York City Will be a Proving Ground 11 Recommendations for Mortgage Lenders 13 WHY MORTGAGE LENDERS SHOULD CARE.NOW14 The Opportunities:Untapped Value of Climate Lending15 Catalyzing Lenders as Climate Champions15 The Mortgage Industry Opportunity17 The Challenges:Develo

4、ping Regulations and Markets22 TASK FORCE RECOMMENDATIONS38 CONCLUSION AND A CALL TO ACTION40 ACKNOWLEDGEMENTS 42 APPENDIX43 Lender Portfolio Analysis:Process and Initial Findings45 ENDNOTESINTRODUCTION5Banking on Climate|December 2024 Authored by the NYC Economic Development Corporation(NYCEDC),NYU

5、 Stern Center for Sustainable Business(NYU Stern CSB),and the Chao-Hon Chen Institute for Global Real Estate(NYU Stern Chen Institute),this report summarizes research by NYU Stern and synthesizes recommendations and feedback from participants in the Building Decarbonization Finance Task Force a grou

6、p of lenders,building owners,policymakers,and non-profits convened by NYCEDC and NYU Stern.The Task Force met from January to June 2024 and discussed opportu-nities and challenges that the US mortgage industry faces as a result of efforts to decarbonize the built environment.Including various opinio